STOCKS NEWS ASIA-Asian ADRs rally 2 pct, China plays shine

HONG KONG, May 14 (Reuters) Asian stocks listed on Wall Street <.BKAS> rallied 2.0 percent, led by China plays such as Sinopec after Beijing unveiled plans to allow qualified domestic institutional investors to buy overseas equities.

Chinese shares listed in Hong Kong, or H shares <.HSCE>, which have lagged their mainland counterparts, are expected to benefit from the outflow of funds.

Yanzhou Coal Mining <1171.HK> jumped 12.90 percent, while Sinopec Corp. <0386.HK>, Asia's largest oil refiner, advanced 8.11 percent.

U.S. stocks rose on Friday after producer prices data eased inflation concerns, helping drive the blue-chip Dow <.DJI> up 0.84 percent and the tech-heavy Nasdaq <.IXIC> up 1.12 percent.

But MSCI's measure of Asia Pacific stocks excluding Japan <.MIAPJ0000PUS> eased 0.87 percent after hitting a record high on Thursday.

-- HEADLINES: >Asia Stocks Week Ahead-Cautious, all eyes on China [nSP6488] >Wall St:Investors look for pullback in U.S.

stocks [.N/O] >Wall Street bounces back as inflation worries ease [.N] >NTT profit misses f'casts, sees no growth in 07/08 [nT290066] >Telstra says would consider options if approached [nSYD22864] >India's SBI Q4 net profit up 75 pct; beats f'cast [nBOM6411] >China PC maker Great Wall to buy 11.55 pct of TPV [nHKG289491] >Thai AIS Q1 profit down 25 pct, beats forecasts [nBKK227927] >ThyssenKrupp lifts forecast; 2nd-qtr adj profit up [nL1124478] >Japan considers incentive to boost generic drug use [nT261691] >Dollar slips against the euro, hurt by U.S. data [nN11308678] >Oil rises towards on Africa output woes [O/R] >ADR Report-Chinese ADRs lead gains, Yanzhou jumps [ADR/] -- KEY INDEXES pct change Bank of New York Asia ADR index <.BKAS> +2.00 Dow Jones Industrial Average <.DJI> +0.84 Nasdaq Composite Index <.IXIC> +1.12 MSCI Asia Pacific ex-Japan <.MIAPJ0000PUS> -0.87 Nikkei futures in Chicago <2NKc1> 17,725.00 Nikkei futures in Osaka 17,540.00 -- ASIAN ADR ACTION: 5 most actively traded: price change/pct TSMC <2330.TW> -0.10 China Mobile <0941.HK> +5.70 UMC <2303.TW> +0.91 Siliconware <2325.TW> +2.20 SK Telecom <017670.KS> +1.18 -- Top 5 performers: price change/pct Yanzhou Coal <1171.HK> +12.90 Sinopec <0386.HK> +8.11 China Life <2628.HK> +7.41 Shanghai Pechem <0338.HK> +7.39 Huaneng Power <0902.HK> +7.31 -- Bottom 5 performers: price change/pct Metal Storm -3.21 Macronix <2337.TW> -2.73 Webzen <069080.KQ> -1.30 LG.Philips <034220.KS> -0.56 Konami Corp. <9766.T> -0.43 -- TOP ASIA EVENTS: For more Asian company earnings, see [ASIA/EQTY] JAPAN - Earnings: Isuzu Motors Ltd. <7202.T>, Pioneer Corp. <6773.T>, NEC Electronics Corp. <6723.T>, EAccess Ltd. <9427.T> - April corp goods price; March current account AUSTRALIA - March housing finance data 0130 GMT S.E ASIA - Earnings: Singapore's Neptune Orient Lines , City Developments - Market holiday in the Philippines -- REUTERS PYB HS1126